# Fabasa

Fabasa is a Pension Fund based in Salvador, Brazil.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Salvador, Brazil
- **Region:** South America
- **Address:** Rua Alceu Amoroso Lima, 668, 4º andar, Caminho das Árvores, Salvador, Bahia, CEP: 41820-770, Brazil
- **Founded:** 1996
- **Assets under management:** Undisclosed
- **Website:** fabasa.com.br
- **LinkedIn:** https://br.linkedin.com/company/fabasa-funda%C3%A7%C3%A3o-de-assist%C3%AAncia-social-e-seguridade-da-embasa

## Regulatory record

- **Reports private funds:** No

## About

Fabasa launched in 1996 as a closed complementary pension fund in Salvador, Bahia, created by and serving the workforce of Embasa — Empresa Baiana de Águas e Saneamento S/A. It operates under Previc, Brazil's national supervisor, and works alongside the industry association Abrapp to maintain compliance and peer benchmarking. The foundation's legal mandate is narrow: manage benefit plans and the supporting investment portfolio so participants can accumulate savings beyond the General Social Security Regime. The fund pursues a blended investment approach within a domestic Brazilian framework, allocating across public-market instruments and direct real estate. Its known real asset is Edifício América Towers, a commercial building that also houses its headquarters. The asset-class composition and mandate split between internally managed and externally advised capital remain undisclosed. Oversight sits with President Dermeval Lima Filho; day-to-day portfolio allocation is managed by Investment Manager Mariana Sahade Araújo (per Altss research). The foundation is a participatory member of Abrapp, the Brazilian association for closed private pension entities, which gives it access to industry-standard governance frameworks and collective advocacy. No separate philanthropic vehicles, multi-family office units, or co-investment clubs have been publicly linked to Fabasa. Recent verifiable operating events in the 24-month window are not available in the public domain. Fabasa's structural posture reflects a sponsor-rooted pension fund that exists first as a workforce obligation and second as an investor. Unlike family offices or sovereign wealth funds, its mandate does not target growth for its own sake. The governance is nested inside Embasa's industrial ecosystem, while regulatory guardrails from Previc dictate liquidity, risk, and actuarial discipline. That architecture makes it an instrument of predictable, long-horizon asset management rather than an opportunistic allocator.

## Sectors

- Real Estate

## People

- Dermeval Lima Filho — President and Director
- Mariana Sahade Araújo — Investment Manager

## Questions

### Who runs investment decisions at Fabasa?

Mariana Sahade Araújo serves as the Investment Manager responsible for portfolio allocation, under the oversight of President and Director Dermeval Lima Filho (per Altss research). Both roles operate within the regulatory framework established by Previc, the national supervisory body for Brazilian closed pension funds. The foundation does not publicize an investment committee roster beyond these two named professionals.

### What is Fabasa's relationship with Embasa?

Embasa — Empresa Baiana de Águas e Saneamento S/A — is the founding sponsor and the entity whose employees and beneficiaries make up Fabasa's participant base. The pension fund was established in 1996 specifically to manage supplementary retirement benefits for that workforce. Its identity and legal existence are inseparable from the utility company's obligations.

### How is Fabasa regulated?

Fabasa operates under the supervision of Previc (Superintendência Nacional de Previdência Complementar), the Brazilian federal agency responsible for auditing and regulating closed private pension entities. Its asset allocation, benefit-plan management, and governance practices must comply with Previc resolution schedules, which imposes concentration limits, liquidity thresholds, and actuarial reporting requirements.

## Related profiles

- [FAAV](https://altss.com/profile/faav)
- [Faberj College Endowment](https://altss.com/profile/faberj-college-endowment)

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Last updated: 2026-08-11T02:43:31.692Z

Canonical page: https://altss.com/profile/fabasa

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